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MODCAM

Modcam – vision sensors with onboard analytics for retail customer analysis

Total Cost €

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EC-Contrib. €

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Partnership

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 Outcomes and results

 MODCAM project word cloud

Explore the words cloud of the MODCAM project. It provides you a very rough idea of what is the project "MODCAM" about.

retailers    data    patent    video    300    annually    companies    queue    75m    hot    server    lower    translates    track    solution    solutions    bi    negotiations    combining    ikea    customers    costing    unlocking    cold    eleven    200    promotion    statistical    conduct    market    computer    provisional    operations    senior    revenue    effectiveness    advances    markets    remarkable    points    modcam    launched    powerful    charging    bandwidth    sensor    zones    vision    efficient    professionals    paying    countries    proprietary    speed    first    analytics    store    hitting    pain    roll    sales    pixels    chains    swedish    class    batch    barrier    monthly    gather    mobile    2020    complete    earns    stores    least    insights    employees    expertise    immense    optimize    flow    visitors    26    50    telecoms    sensors    customer    ebit    2013    remote    prepare    network    camera    6816    2    sek    distributed    counts    capture    sme    demographic    17m    device    amount    fee    feasibility    world    full    generation    1600    manually    becomes    commercial    holds    retail    compact    retailer    patents   

Project "MODCAM" data sheet

The following table provides information about the project.

Coordinator		 MODCAM AB 

Organization address
address: BREDGATAN 4
city: MALMO
postcode: 21130
website: n.a.

contact info
title: n.a.
name: n.a.
surname: n.a.
function: n.a.
email: n.a.
telephone: n.a.
fax: n.a.
 Coordinator Country Sweden [SE]
 Project website http://www.modcam.com
 Total cost 71˙429 €
 EC max contribution 50˙000 € (70%)
 Programme 1. H2020-EU.2.1.1. (INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies - Information and Communication Technologies (ICT))
2. H2020-EU.2.3.1. (Mainstreaming SME support, especially through a dedicated instrument)
 Code Call H2020-SMEINST-1-2016-2017
 Funding Scheme SME-1
 Starting year 2017
 Duration (year-month-day) from 2017-01-01   to  2017-06-30

 Partnership

Take a look of project's partnership.

# participants  country  role  EC contrib. [€] 
1    MODCAM AB SE (MALMO) coordinator 50˙000.00

Map

 Project objective

Advances in camera and sensor technology are unlocking remarkable opportunities for in-store retail customer behaviour analysis, enabling retailers to optimize operations based on rich data insights. Using vision sensors, retailers can track customer flow to determine hot and cold zones, promotion effectiveness and queue speed, and gather demographic data. This is far more effective than methods used by chains such as IKEA, which still counts visitors manually bi-monthly, costing €1600. The first generation of retail analytics technology is now hitting pain points. Video holds an immense amount of data, and analytics are currently conducted on a remote server, meaning network bandwidth becomes a barrier. Modcam has developed a cost-efficient technology solution for retail analytics using powerful proprietary vision sensors that can conduct video analytics in the device. This means only statistical information is distributed over the network rather than pixels. Using Modcam, a retailer can set up a complete customer analytics system for at least 50% lower costs than current solutions. Modcam is a Swedish-based SME that launched in 2013 by 4 senior technical professionals combining world-class expertise in computer vision and mobile telecoms. It has obtained one patent and two provisional patents for its methods, and has already produced a commercial batch of its compact sensors. It has four paying customers, and is in advanced negotiations with eleven companies including IKEA and H&M, with potential full-scale roll-out in up to 6816 stores. Modcam earns revenue by charging a monthly fee of between 200 SEK and 300 SEK per device. It aims to capture 2% of the retail analytics market in 4 countries by 2020, which translates into 26,000 unit sales annually. This will result in revenue of 75M SEK, an EBIT of 17M SEK and 40 employees. This feasibility study will prepare Modcam to scale up across new European markets.

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The information about "MODCAM" are provided by the European Opendata Portal: CORDIS opendata.

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